NGI The Weekly Gas Market Report / NGI All News Access

21 Utilities, Energy Companies Form E-Procurement Venture

21 Utilities, Energy Companies Form E-Procurement Venture

A consortium of 21 energy and utility companies have formed a new company, Pantellos Corp., to operate an e-procurement web site, which was announced earlier this year. The companies also have hired Commerce One, a world leader in e-commerce site development, as their primary technology partner. Pantellos will have an initial capitalization of $100 million.

The new web site will be used for the purchase and sale of goods and services between the energy industry and its suppliers, targeting the $130 billion plus utility and energy supply marketplace.

The consortium, which added six new members recently, announced plans in March to develop the e-commerce platform. It will allow utilities and other energy companies to buy everything from power turbines to office supplies. "It will be almost like a large utility version of E-Bay," said AEP spokesman Pat Hemlepp.

The new members include Carolina Power & Light, DTE Energy, Dominion Resources, El Paso Energy, GPU, Inc. and Ontario Power Generation. They join American Electric Power, Cinergy, Consolidated Edison International, Duke Energy, Edison International, Entergy, FirstEnergy Corp., FPL Group, PG&E Corp., Public Service Enterprise Group, Reliant Energy, Sempra Energy, Southern Company, TXU Corp. and Unicom.

By bringing customers and suppliers together online, the founders of Pantellos expect to streamline purchasing processes, shorten purchasing cycles, and increase accessibility between buyers and sellers, according to PG&E Corp. CEO Robert D. Glynn, who added that the creation of the new online marketplace also should promote supplier diversity.

"PG&E Corporation maintains a strong commitment to supplier diversity," said Glynn. "Pantellos will provide small and historically underutilized suppliers open, low-cost access and increased market reach. Our support of Pantellos represents a great opportunity for us to further our ongoing commitment to these suppliers. Specifically, through our businesses, we envision using Pantellos' services in such a way as to enhance the access of women- and minority-owned businesses."

Pantellos is seeking participation from all interested suppliers. For more information see

Rocco Canonica

©Copyright 2000 Intelligence Press, Inc. All rights reserved. The preceding news report may not be republished or redistributed in whole or in part without prior written consent of Intelligence Press, Inc.

Copyright ©2018 Natural Gas Intelligence - All Rights Reserved.
ISSN © 2577-9877 | ISSN © 1532-1266
Comments powered by Disqus